Paragon Living
Paragon Living is a privately held Winnipeg-based real estate developer and property manager founded in 2008 that builds, owns, and operates purpose-built luxury multi-family rental apartments and townhomes using ICF construction across Winnipeg's most desirable neighborhoods, serving individual renters, families, and First Nations community members.
- Company typePrivate
- Founded2008
- HeadquartersWinnipeg, Canada
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Paragon Living does
Paragon Living is a privately held, vertically integrated real estate development and property management company headquartered in Oak Bluff/Winnipeg, Manitoba, founded in 2008. The company develops, owns, and operates purpose-built multi-family residential rental properties — primarily apartments, townhomes, and condominium-style suites — across Winnipeg's most desirable neighbourhoods, including Osborne Village, Bridgwater, Whyte Ridge, Waverley Heights, Crescentwood, The Maples, St. James, St. Vital, and St. Boniface. With more than $800 million in multi-family residential projects under active development and a portfolio spanning 15+ completed and in-development properties, Paragon Living is one of the most active residential developers in the Winnipeg market, serving individual renters, families, students, and First Nations community members.
The company uses Insulated Concrete Forms (ICF) construction technology across all new developments through a partnership with Logix ICF, achieving above-national energy-efficiency standards and incorporating high-efficiency LED lighting, HVAC systems, free high-speed internet, keyless entry, and smart thermostats into its buildings. Operationally, Paragon Living runs a self-serve digital tenant journey through its own leasing portal (SecureCafe) and resident platform (RentCafe), backed by an in-house property management team and dedicated phone-based leasing support for each property. The integrated model combines land acquisition, financing, design-build construction, and long-term hold-and-operate property management, allowing the company to control unit economics and deliver luxury finishes at below-market rental rates that typically range from approximately $1,400 to $2,500 per month.
Revenue is generated primarily through recurring monthly rental income across the owned portfolio, supplemented by third-party real estate development services (Owner Representative, Construction Manager, and Project Delivery) and lease assignment transaction fees. The company pursues both individual/family renters and serves as a development partner for First Nations communities delivering affordable housing, with project financing sourced from CMHC, BMO, and CMLS. Leadership is anchored by founder and President Nigel Furgus and co-founder and CFO Alyce Kupskay, supported by a Construction Lead and a People and Culture Manager.
Paragon Living firmographics
Firmographics- Name
- Paragon Living
- Legal name
- Paragon Living
- Website
- https://paragonliving.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Paragon Living is a privately held Winnipeg-based real estate developer and property manager founded in 2008 that builds, owns, and operates purpose-built luxury multi-family rental apartments and townhomes using ICF construction across Winnipeg's most desirable neighborhoods, serving individual renters, families, and First Nations community members.
- Ownership category
- akta.pro rank
Paragon Living industry classification
Industry- Product category
- Residential Rental Property Management
- NAICS
- Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (53111)
- SIC
- Operators Of Apartment Buildings (6513), Real Estate Operators (No Developers) & Lessors (6510), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Multifamily Apartment Property Management (BPAJAFAA)
- akta.pro secondary industries
- Single-Family Rental (SFR) Property Management (BPAJAFAB), Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)
Keywords
Where Paragon Living is headquartered
LocationHeadquarters
- HQ city
- Winnipeg
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Paragon Living business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Residential Rental Income: Primary revenue stream from monthly rental payments collected across a portfolio of multi-family residential buildings in Winnipeg. Residents pay rent on a monthly basis, with pricing based on unit type, size, and location. Revenue is recurring and subscription-like in nature.
- Real Estate Development & Construction: Full-service real estate development covering land acquisition, financing, design, construction, and property management. Paragon Living builds and holds its projects long-term, managing the entire development lifecycle and offering Owner Representative, Construction Manager, and Project Delivery services to third parties.
- Lease Assignment Fees: Secondary revenue from facilitating lease assignments where existing tenants transfer their leases to new applicants, generating transaction fees through the company's assignment listings platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Below-Market Luxury Rentals across Winnipeg portfolio |
| Subscription | Monthly | Lease Assignment Units |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels8 records
Paragon Living product offering
Product offeringCore offering
Paragon Living owns, develops, and manages a portfolio of multi-family rental apartments, townhomes, and condos across Winnipeg. The company delivers high-end rental units at below-market rates using energy-efficient ICF construction, then operates them as long-term holdings with in-house property management backed by online tenant platforms. It also provides integrated real estate development services (Owner Representative, Construction Manager, Project Delivery) to third-party property owners and investors.
Product overview
Paragon Living is a full-service real estate developer and property management company established in 2008, offering affordable luxury rental apartments, townhomes, and condos across Winnipeg's most desirable neighborhoods. The portfolio includes completed properties (162 Scott Street, 939 Chancellor Drive, 250 Centre Street/The Bridgwater, 55 Post Street, 1325 Jefferson Avenue/The Jefferson, and others) as well as development projects under construction (Tuxedo Heights phases, 130 Sherbrook, 670 McMillan Avenue, 25 Post Street, 1811 St. John Brebeuf). The company provides integrated services including real estate development, design-build construction using ICF technology, and property management with online resident portals (RentCafe/SecureCafe). With over $800 million in multi-family residential projects under development, Paragon Living focuses on sustainable, purpose-built communities offering contemporary design, energy-efficient construction, and below-market rental rates.
Differentiator
Problem solved
Functional benefit
Products and services
- 162 Scott Street Four-storey multi-family residence in Osborne Village with 1-2 bedroom suites (552-938 sq ft) featuring quartz countertops, designer finishes, free high-speed internet, in-suite washer/dryer, and central air conditioning, offered as a rental residence at below-market luxury rates.
- 939 Chancellor Drive Rental property with 95 purpose-built suites in Waverley Heights offering 1-3 bedroom options with tall windows, high ceilings, balconies, in-suite laundry, and complimentary high-speed internet, located near the University of Manitoba.
- 250 Centre Street (The Bridgwater) Six-storey, 143-unit apartment building in the Bridgwater Centre neighborhood with free high-speed internet, pet-friendly residences, and scenic balcony views, offering 1-3 bedroom options from 610-1093 sq ft.
- 55 Post Street Brand new townhomes in Whyte Ridge offering 2-3 bedroom options for lease with modern finishes.
- Property Management Services Full-service in-house property management for all Paragon Living properties, including concierge-style resident service, online rental payments via the RentCafe portal, maintenance request tracking, and ongoing resident support.
- Real Estate Development Services Integrated real estate development offering for third-party property investors and developers, covering land acquisition, financing, design, construction, marketing, and property management; services include Owner Representative, Construction Manager, and Project Delivery roles.
- Design-Build Services Construction services using a dedicated team approach with accountability for every detail, employing ICF (Insulated Concrete Forms) construction technology to deliver energy-efficient multi-family residential buildings.
Quantifiable outcome
- Thousands of residents served since 2008
- +2 more outcomes
Companies that use Paragon Living
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Paragon Living technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature3 records
Paragon Living partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, key and standard.
- First Nations CommunitiescoreParagon Living has partnered with multiple First Nations communities to develop affordable housing, including Opaskwayak Cree Nation for the $18 million 380 Young Street project providing housing for Indigenous youth. Projects include units designated for First Nations students attending University of Manitoba.
- Fugu (Architecture/Design Firm)keyArchitecture firm contributing to the design of Paragon Living developments. Listed among carefully selected teams of architects, engineers, and professionals assembled for each project.
- Logix (ICF Construction Materials)keyLogix provides Insulated Concrete Forms (ICF) construction materials used in Paragon Living's energy-efficient building projects. 30 University Crescent is specifically noted as being constructed using Logix ICF over one level of underground parking.
- KohlerstandardKohler supplies plumbing fixtures and fittings (e.g., domed tub/shower combinations) as part of the premium finishings in Paragon Living properties, contributing to the luxury aesthetic.
- Studio FaroutstandardDigital agency credited for the website design and development of paragonliving.com, listed as the design and development provider in the footer of the main website.
- PKF (Accounting/Advisory)standardPKF provides professional accounting and advisory services as part of Paragon Living's professional partner ecosystem.
- CGM (Construction/General Contractor)keyConstruction partner involved in the build phase of Paragon Living development projects, contributing to the 'Dedicated Team' approach ensuring quality craftsmanship and accountability.
- Wolfrom EngineeringstandardEngineering firm included in Paragon Living's carefully selected project teams for design and construction oversight across developments.
- AMC (Construction Management)keyConstruction management firm contributing to Paragon Living's dedicated project teams, supporting quality assurance and project delivery across the development portfolio.
Scale indicators5 records
Recent moves6 records
Expansion highlights4 records
Paragon Living competitors and assessment
Company assessmentBroad incumbents
- Boardwalk REIT: One of Canada's largest residential rental REITs with multifamily communities across multiple provinces; broader and larger than Paragon but operates a directly comparable multifamily rental model with in-house property management.
- Tridel: Large Canadian residential real estate developer that builds and manages condominium and rental communities; comparable in integrated development-and-management capabilities though primarily Ontario-focused.
- Hazelview Properties: Global investment manager focused on rental housing including Canadian purpose-built rentals, directly comparable to Paragon Living's ownership and operation of high-quality rental apartments.
- CAPREIT (Canadian Apartment Properties REIT): Canada's largest open-ended pooled apartment REIT, directly comparable to Paragon Living's multifamily rental business, although operating at much greater scale and geographic breadth.
- Dream Unlimited Corp. Canadian real estate developer with both for-sale condominium and purpose-built rental operations; comparable in integrated development capability including affordable and purpose-built rental communities.
Direct peers
- Mainstreet Equity Corp. Canadian-focused multifamily rental owner/operator that acquires and holds mid-market apartment buildings, very comparable to Paragon Living's vertical integration of acquisition, development, and ongoing rental management in Western Canada.
- Killam Apartment REIT: Canadian apartment REIT that owns, operates, acquires, and develops multifamily rental properties, very similar to Paragon Living's own-develop-and-hold approach, with strong presence in growth markets.
- Skyline Living: Canadian multifamily owner and operator that acquires and develops purpose-built rental apartments with in-house property management, closely mirroring Paragon's integrated model.
Regional players
- Veracity Homes / Marston Homes (Winnipeg-area developers): Local Winnipeg-area residential developer and builder; less of a pure multifamily operator but competes for the same Winnipeg land, labor, and renter pool that Paragon Living targets.
- Visionwest Properties / Birchwood Properties (Winnipeg-area developer): Manitoba-based commercial and residential real estate developer that builds and manages rental and mixed-use projects in the Winnipeg market, providing a direct in-market comparable to Paragon's Winnipeg-centric portfolio.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Paragon Living social profiles
Digital presenceParagon Living compliance and trust
Trust signalCompliance1 record
Paragon Living financial estimates
Financial estimateRevenue estimate
Valuation estimate
Paragon Living leadership team
Management profileNumber of profiles
Profiles4 records
Paragon Living funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Paragon Living M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Paragon Living
What does Paragon Living do?
Paragon Living owns, develops, and manages a portfolio of multi-family rental apartments, townhomes, and condos across Winnipeg. The company delivers high-end rental units at below-market rates using energy-efficient ICF construction, then operates them as long-term holdings with in-house property management backed by online tenant platforms. It also provides integrated real estate development services (Owner Representative, Construction Manager, Project Delivery) to third-party property owners and investors.
Is Paragon Living a public or private company?
Paragon Living is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Paragon Living founded?
Paragon Living was founded in 2008. It employs 11 to 50 people.
Where is Paragon Living based?
Paragon Living is headquartered in Winnipeg, Canada, in the North America region.
How does Paragon Living make money?
Three revenue lines are on record. Residential Rental Income is the primary driver. The others are real Estate Development & Construction and lease Assignment Fees.
Who are Paragon Living's main competitors?
Broad incumbents on record are Boardwalk REIT, Tridel, Hazelview Properties, CAPREIT (Canadian Apartment Properties REIT) and Dream Unlimited Corp.. Direct peers are Mainstreet Equity Corp., Killam Apartment REIT and Skyline Living. Regional players are Veracity Homes / Marston Homes (Winnipeg-area developers) and Visionwest Properties / Birchwood Properties (Winnipeg-area developer).
Does Paragon Living have an API?
No public API is recorded for Paragon Living.
What industry is Paragon Living in?
Paragon Living's product category is Residential Rental Property Management. Its primary akta.pro industry code is BPAJAFAA, Multifamily Apartment Property Management, with a secondary code of BPAJAFAB, Single-Family Rental (SFR) Property Management. Its NAICS code is 531311 and its SIC code is 6513.